Life Insurance Canada News Archives

Borrowing Against Life Insurance in Canada: How It Works

Permanent life insurance can do more than provide a death benefit. If your policy has accumulated cash value, you may be able to use it to access money while you’re still alive. One option is a policy loan, where you borrow against the policy’s value rather than cancelling it or withdrawing the money outright. You...

At What Age Does It Make Sense to Get an Annuity?

Retirement is often about a whole series of trade-offs – one of the biggest ones being, turning savings into income without worrying whether it will last long enough. Some retirees prefer flexibility and keep their money invested. Others rely on RRIF withdrawals or a mix of pensions, CPP, and OAS (Old Age Security) / GIS...

How to Claim Life Insurance in Canada: A Step-by-Step Guide

Losing someone close is never easy. In the middle of grief and emotional stress, there are often practical responsibilities that need to be handled – many of them unfamiliar and overwhelming. Life insurance exists to provide financial support during exactly these moments, helping protect loved ones when they need it most. However, life insurance is...

Do You Really Need Life Insurance in Your 60s? Key Situations to Know

Life insurance is a financial product that evolves in purpose as you move through different stages of life. While it is often associated with income protection and family security, its role changes significantly in your 60s. Term life insuranceis typically used for temporary protection, while permanent life insurance– such as whole lifeor universal life– focuses...

Do You Really Need Life Insurance in Your 40s? Key Situations to Know

Life insurance is a financial product that is often misunderstood. Many people associate it only with death benefits, while in reality it comes in different forms and serves different purposes depending on life stage and financial goals. Term life insurance is typically used for pure protection over a defined period, while Permanent life insurance — such...

The Role of Life Insurance in Your Investment Portfolio

When people think about investing, they usually focus on stocks, bonds, and real estate. But certain types of insurance — especially life insurance — can play meaningful and sometimes overlooked roles in a well-structured financial plan. This article explains those roles in straightforward, non-technical language, including how life insurance can play various investment roles: Life...

Three Ways Life Insurance Can Protect You from Inflation

Inflation means the prices of everyday things—like food, housing, transportation, and healthcare—increase over time. This reduces the purchasing power of your money and can affect your family’s standard of living. Permanent life insurance can be a powerful tool to help protect your finances against these rising costs. What Type of Life Insurance Helps With Inflation?...

Top 55 Canadian Personal Finance Blogs: The Ultimate List

Personal finance blogs have been offering insightful tips and financial advice to Canadians for years, some for decades. So, we have compiled for you a list of the top 55 personal finance blogs. This list does not include big corporate blogs of financial institutions or insurance companies, though we recognize that many of them offer...

5 Must-Know Scenarios When Mortgage Insurance is Actually Better Than Traditional Insurance

Introduction: Mortgage Insurance vs Traditional Insurance It’s now broadly understood that mortgage insurance is an insurance product that often primarily benefits financial institutions. Many consumers buy it in the heat of the moment, feeling compelled to protect a large real estate asset like a home, without conducting a deep financial analysis of how this insurance...

Eight Hidden Traps in No Medical Life Insurance You Should Know About

Introduction into No Medical Life Insurance: No medical life insurance products are designed for individuals who want to avoid the traditional underwriting process, which typically includes a medical exam. While these policies provide an attractive option for those with health concerns or those who prefer a quicker, hassle-free application process, they come with higher premiums and...

Denied Life Insurance: 22 Reasons and Solutions

Introduction: For some people, obtaining life insuranceis not straightforward. Health conditions, lifestyle choices, and other factors heavily influence whether an insurance company considers you a suitable candidate. While it may be tempting to withhold or falsify information on your application, this approach backfires in the long run. Even if it initially leads to an attractive...

10 Insider Secrets to Lower Your Critical Illness Insurance Rates

Unlock Savings: 10 Insider Secrets to Lower Your Critical Illness Insurance Premiums Background: Critical Illness insurance is one of the most misunderstood forms of coverage, yet it provides vital financial protection. Unlike other types of insurance, Critical Illness insurance offers a lump sum payment upon diagnosis of specific illnesses. You can use this payout however...